Most likely Monero fails. Invest accordingly. The markets are telling us the probability of Monero's failure has risen significiantly.
Weren't you buying a ton just last month? Markets change. Shark must keep swimming to eat.
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don't expect to raise $10 million at the ICO. You might raise $50,000 perhaps ($500 x 100).
I would guess that $50 000 would not be sufficient to develop hardware to support IOTA, but I could be wrong.
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The track record in trying to do that is pretty bad. Limit per buy-in just raises the stakes to create/recruit/impersonate more straw buyers. See Stellar and probably some others.
That is more difficult if you can't pay with crypto and have to pay with a fiat account. And if the maximum amount per buyer is say $500. Not saying they should do that. We all hate the fiat world right? (I paid my rent today with BTC) For paying that may be true (the earlier attempts at "per person" distribution were mostly free). But then that raises other legal, institutional, and logistical costs and obstacles, as you have previously reported with respect to your social media experiments.
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In short: yes we could take up loans by people to buy up IOTA token. There are plenty of these opportunities if one wants to and this would not change if we had premine either, it would just give us even more IOTA.
As for verification process: there is no way to beat sybil, there would be numerous ways to fool this third party too. We could just pay some random people to buy coins via their IDs and then send them to us.
We wont cheat the system, it would be a detriment to IOTA and thus a larger detriment to ourselves than the profit we could get out of manipulating the ICO. This boils down to how inclined you are to believe in conspiracy theories. Fortunately participating in ICO is 100% voluntary.
I understand you can fool to some extent the verification process, but requiring a limit buy-in per user complicated the fooling process a lot. The track record in trying to do that is pretty bad. Limit per buy-in just raises the stakes to create/recruit/impersonate more straw buyers. See Stellar and probably some others.
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As for complying with laws, my current thinking is to sell the software with some tokens for use at set prices to end users (not investors) It is not at all clear there are "end users" for something like this for years to come. It will take a significant period of time to build a market with supporting devices, services, and a large enough population of users, all interacting with each other using the token as a tool to accomplish something else. So I doubt that anyone buying it now could be viewed as anything but a speculator (including long term investor). That might be different for some other kind of token such as one backing assets in a game or even maybe decentralized storage. Something with actual ready-to-go uses. But that seems a bit off topic on this thread.
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This a serious dilemma. I have thought about it a lot. Has anyone else devised a better solution?
We know that mining can't be used here because CfB has stated that it undermines the security model. If the idea is bootstrapping the distribution and not raising money, then spin off from an existing coin, preferably a widely used one. Multiple coins are even okay but make sure the weighting bears some sane relationship with fair market value (does not have to be exact). If the idea is raising money while unambiguously complying with all the (perhaps mutually contradictory) laws in the world while at the same time using a structure that achieves a widespread distribution in practice, and is verifiably resistant to cheating, well good luck. I don't know how to do that either.
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I'm not denying that its probably difficult to manage a botnet. I would just argue that the "resources" used to mine skew some of the assumptions made that underlie the purpose of POW. Probably not skewing the assumptions too much considering that satoshi wrote about botnets and said they make the network more secure. He may have been more interested in security functions than price action though.
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This surprises me, AES-NI is intel only right? Maybe I'll try my Hex start arch cpu.
No most new AMD CPUs have it as well.
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Second off topic reply by olcaytu2005 deleted. olcaytu2005, you are welcome to join the discussion on topic. If you don't wish to do that this is your last warning that you will be banned from this thread
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Off topic, but you will get one warning. Next time will just be deleted. Please review the topic for this thread:discussion of Monero trading and price speculation. EDIT: one further off topic post from the same individual deleted. olcaytu2005, this thread is about Monero trading and price speculation, it is not about general discussion of anything and anyone related to Monero.
EDIT 2: One reply by Hueristic deleted, even though it was funny. Personally I was going to invoke the humor exception and leave it until he forced the issue by baiting the No Red Rule
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This is because you speak ostensibly as an insider member of the community with strong connections to the lead developer Just to correct this, I have no particular connection to funnyman21. I don't even remember ever communicating with him directly, but it is possible I did. As far as buyers and sellers, well it is pretty obvious, and I don't know that it represents pumping. Everyone is pretty aware that there are more large buyers than sellers who are public about it, but the market price is still what it is (with buying and selling in rough balance), so that isn't even necessarily a bullish indicator. There could be more small sellers or more large sellers who don't want to be public. EDIT: neither a connection with rangedriver. Fact is I'm not really "connected" with anyone on these forums. I mostly just live my own life, do what I do, and post on here (and occ on reddit, etc.)
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I'm 100% convince this is a BTC bubble
Someone on the wall observer thread was talking about some MMM ponzi. I couldn't follow it and I have no idea what effect that might have. Does anyone think that has any merit? Given the critical role BTC has in trading XMR it seems we ought to understand if there is some large (?) unsustainable factor driving current BTC prices, and how close that might be to reversing.
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XMR price July 2014 $3.35 XMR price today $0.38
To briefly bring this thread back on topic DASH price May 2014: $13.50 DASH price today: $2.25 BTC price May 2014: $500 BTC price today: $300 Conveniently leaving out the context. ... Monero What you call "the contest" i.e. Monero, is off topic to this thread. Please try to stay on topic. iCEBREAKER seems capable of that (as far as I can tell every one of his posts here discussed Dash and Bitcoin). Are you? Back on topic: Dash has lost nearly all of its value while Bitcoin is quickly recovering a large portion of the value it lost over a similar time period. Dash is NOT a better alternative to Bitcoin based on market performance, which is often cited by Dash proponents as a measure of its success. And now instead of just leaving out the context editing posts to make the context different that it originally was is approaching forum games I've generally expected from puppets deserving the "Trollero" title. Please don't go there. When iCEBREAKER invested in some coin other than Dash or Bitcoin is totally irrelevant to this thread, so yes, I'm going to trim that irrelevant context. No, you changed the quote to make it out to be the context was Monero, when the context originally was one of the reasons why Icebreaker might be angry towards Dash and also his horrible investing skills which should make everyone consider his opinions on Dash very critically. The reasons why iCEBREAKER might be angry toward Dash and his investing skills (horrible or otherwise) are both off topic. Try to obsess a bit less about iCEBREAKER. The topic is "Is Dash a better alternative to Bitcoin?" Answer: NOAs with the foolish rename, Evan's top-down, decided-in-secret closed-source approach to "Evolution" (the irony is impressive) is not welcomed by the market, and in destroying value, not adding it. Meanwhile Bitcoin continues to power ahead with innovation and its open-source, peer-reviewed approach and is being rewarded accordingly by the the market.
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Everyone knows that the following known trolls are being paid to
Hey bigrcanada, since "everyone knows" this and I don't, I feel a bit out of touch. Can you post your evidence so I can get caught up with with I missed. Thanks!
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XMR price July 2014 $3.35 XMR price today $0.38
To briefly bring this thread back on topic DASH price May 2014: $13.50 DASH price today: $2.25 BTC price May 2014: $500 BTC price today: $300 Conveniently leaving out the context. ... Monero What you call "the contest" i.e. Monero, is off topic to this thread. Please try to stay on topic. iCEBREAKER seems capable of that (as far as I can tell every one of his posts here discussed Dash and Bitcoin). Are you? Back on topic: Dash has lost nearly all of its value while Bitcoin is quickly recovering a large portion of the value it lost over a similar time period. Dash is NOT a better alternative to Bitcoin based on market performance, which is often cited by Dash proponents as a measure of its success. And now instead of just leaving out the context editing posts to make the context different that it originally was is approaching forum games I've generally expected from puppets deserving the "Trollero" title. Please don't go there. When iCEBREAKER invested in some coin other than Dash or Bitcoin is totally irrelevant to this thread, so yes, I'm going to trim that irrelevant context. Back on topic though, what do you think that the market is telling us about Dash and Bitcoin, because Bitcoin seems to be doing a whole lot better according to investors? What do you think about open source developments in the Bitcoin ecosystem, such as confidential transactions (with whitepaper), sidechains (with whitepaper), improved smart contracts (with BIP documents), lightning network (with whitepaper), etc.? Is Dash meeting and exceeding that quality and quantity of open source development, or is it falling behind and/or going in the wrong direction? Is the market getting this wrong?
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Who gives a shit about markets? Good luck with Doge 2.0 I seem to remember toknormal and probably other Dash supporters saying quite a few times that growth in market cap was an indicator of the success of Dash. That cuts both ways does it not? BTW, by "Doge 2.0" are you referring to Bitcoin because that makes no sense? Or are you going off topic? Tread topic reminder: "Is Dash a better alternative to Bitcoin?" Update: DASH price May 2014: $13.50 DASH price today: $2.25 $2.14 BTC price May 2014: $500 BTC price today: $300 $302
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XMR price July 2014 $3.35 XMR price today $0.38
To briefly bring this thread back on topic DASH price May 2014: $13.50 DASH price today: $2.25 BTC price May 2014: $500 BTC price today: $300 Conveniently leaving out the context. ... Monero What you call "the context" i.e. Monero, is off topic to this thread. Please try to stay on topic. iCEBREAKER seems capable of that (as far as I can tell every one of his posts here discussed Dash and Bitcoin). Are you? Back on topic: Dash has lost nearly all of its value while Bitcoin is quickly recovering a large portion of the value it lost over a similar time period. Dash is NOT a better alternative to Bitcoin based on market performance, which is often cited by Dash proponents as a measure of its success.
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Linux users can use rlwrap. I don't know if there is anything similar for Windows.
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Something is definitely wrong there, but I don't know enough about mining on Windows to suggest what it might be.
Anyone?
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XMR price July 2014 $3.35 XMR price today $0.38
To briefly bring this thread back on topic DASH price May 2014: $13.50 DASH price today: $2.25 BTC price May 2014: $500 BTC price today: $300 To answer the question in the thread topic, Dash is not a better alternative to Bitcoin.
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